Ethereum Breaks $3700, Momentum Building Toward New Highs
Market Snapshot Ethereum trades at $3770.30 (+1.4% in 24hrs), decisively breaking the $3700 psychological barrier with strong volume confirming buyer conviction New ATH. Technical indicators show ETH/BTC pair strengthening, suggesting potential outperformance against Bitcoin.
Key Catalysts
• Institutional Demand: Ten consecutive weeks of ETF inflows ($2.18B weekly) and whale accumulation ($49.92M recently)
• Technical Strength: Dencun upgrade improving gas efficiency and network scaling Strong Momentum
• Market Rotation: BTC dominance falling to 43%, signaling capital flow toward altcoins
Trading Considerations Support established at $3350-3400 with resistance at $3800 and $4095. RSI indicates overbought conditions (72.7%) suggesting potential short-term consolidation before higher moves. Conservative traders might consider longs with stops below $3400 and targets at $3800-4000, while monitoring the developing altseason dynamics 180-Day Peak.
